EU new wind capacity for 2024 is less than half the amount needed to meet climate target, industry group says. By Reuters

LONDON (Reuters) – Wind power provided 20% of the electricity consumed in Europe last year, but the capacity built during the year was less than half of what is needed to meet the European Union’s 2030 energy and climate targets, industry group WindEurope said. Friday.

Why is it important

Wind energy has been a growing part of Europe’s electricity production for more than 20 years, and the EU wants it to grow further to achieve goals of combating climate change and also because it reduces dependence on fossil fuels.

In numbers

Europe built 15 gigawatts of new wind capacity last year, including 13 gigawatts of offshore wind and about 2 gigawatts of onshore wind, according to preliminary 2024 data from WindEurope.

EU countries account for 13 gigawatts of this energy, but to meet its 2030 climate goals, the 27-nation bloc must build 30 gigawatts a year of new wind farms.

The European Union wants wind energy to account for 34% of electricity consumed by 2030 and more than 50% by 2050.

Context

The global offshore wind industry in particular has had a challenging few years due to infrastructure, grid connectivity and logistical issues, allowing for delays and higher component costs.

Offshore wind investments in Europe have declined and it remains difficult for companies to make final investment decisions, WindEurope said.

Key quotes

“Europe is not building enough new wind farms. For three main reasons: a) most governments are not implementing good EU permitting rules; b) new grid connections are delayed; c) Europe is not electrifying its economy fast enough,” said WindEurope CEO Giles Dixon.